f
HENDRICKS' VOICE.
Democratic Principles
quently Defined,
Elo-
- An Economical Administration
and Lower Taxes Itemand
ed Blaine, not a Friend
of Katuralixed
Citixens.
, Hon. Thomas A. Hendricks, Demo
cratic candidate for Vice-President, de
livered the subjoined address before aa
mmense assemblage at Indianapolis, Ind.,
frequent outbursts of tremendous cheers
greeting his remarks. He spoke as fol
lows: Fellow-citizens I appreciate the
privilege and the honor of addressing
you, and I recognize the duty of speak
ing frankly and without concealment or
exaggeration of any material fact or
opinion. May I first ask your attention
to the necessity and importance of rev
enue reform? The power to levy and
collect taxes is among the highest and
most responsible of the attributes of
government. How far may government
go in the exercise of the power to tax
the people? Freely and cheerfully we all
answer that there shall be no limitation
or restraint upon the absolute and entire
maintenance of public authority, with
all of its faculties and functions unim-
E aired. Whatever the government can
iwfully do, and of right should do, the
taxpayers will furnish it the means to
accomplish. Beyond this is the province
of private right, to invade which is
usurpation.
When the war came taxation was nec
essarily and rightfully increased. But
with the war and the expenditure conse
quent upon it, there passed away the
necessity for a war standard of taxation.
Why, then, has such a standard contin
ued 1 The party that has held almost un
broken power for nineteen years of peace
must respond to that inquiry. In his
mescage of Dec. 4, 1882, President
Arthur admonished Congress that at the
prior session he had urged upon its at
tention "the importance of relieving the
Industries and enterprises of unnecessary
taxation." For the fiscal year ended June
SO, 1881, the surplus revenue amounted
to $100,000,000; for the fiscal year ended
on the 30th of June last the surplus was
more than $145,000,000. What sav vou.
my countrymen? Did that showing not
call for revenue reform? During that
Conerress the House was made nositivelv
Republican, largely by partizan action. 2
sxoi mucn need was given by it to the
startling statement made by the
President of the enormous excess
In the revenue. The modifica
tion of the internal revenue system and
of the tariff made in the March follow
ing left an excess of $85,000,000 of
revenue. In his last annual report' (3d
December last, the secretary of the treas
ury .estimates the surplus of the cur
rent year at $85,000,000, and adds:
'So the question still presses, what leg
islation is necessary to relieve the people
of unnecessary taxes?" Yes, it the ques
tion of $85,000,000 unnecessary taxes in
one year. The accumulation is constant.
In a speech recently made at Richmond,
Mr. Calkins, the candidate for gover
nor, boasting of the achievements of
his party, made the statement which I
adopt without examination, that the
4 'Republican party found an empty
treasury; now it has a surplus of $400,
000, 000. ' That great sum of money lies
idle in the treasury. If it had been left
with the people it would become the
willing and active servant of labor. In
the language of the secretary of the
treasury "The question still presses,
what legislation is necessary to relieve
the people of unnecessary taxes?"
It is the question of revenue reform.
Solve this question, my countrymen, by
reducing the taxes, and thus leaving the
money not needed by the government
in the pockets of the people, and in the
channels of trade and commerce. The
party in power will not give us this re
form. May I ask your attention to the plan
and principles of revenue reform tn
which" the Democracy are pledged by the '
mcago piatiormr federal taxation
"shall not exceed the needs of the gov
ernment economically administered." Do
you approve that? If not, would you
have the government wastefully and
corruptly administered, to make room
and pretext for higher Federal taxes?
"Federal taxation shall be exclusively
for public purposes." Would you have
it otherwise? If taxation can have for
its object other than public purposes,
then what purposes? May the object
and purpose be individual and private
gain? I do not question that it may be
and often is an incident that one man
receives a greater benefit or carries a
greater burden than another because of
a prescribed tax. Nor do I question
that in the adjustment of the details of
a tariff law the legislative mind and
judgment may and will be influenced not
only by considerations of general policy
but also by the probable effect of the
measure upon the business interests of
the country. It is in accordance with
the sentiment that the Democratic party
stands pledged in its platform "to re
vise the tariff in a spirit of fairness to
all interests," and that "any change of
law must be at every step regardful" of
the labor and capital employed in the
industries of the country, and that custom
house taxes shall bear "heaviest on arti
cles of luxury and the lightest on articles
of necessity," and that "the necessary
reduction in taxes can and must be ef
fected without depriving American
labor of the ability to compete success
fully witli foreign labor."
These principles of the platform are
plainly written and easily understood.
They present the conservative purpose of j
the Democracy touching revenue reform.
When expressed in the laws their benefi
cent influence will become active and
universal. Lower taxes will signify
lighter burdens upon the people ; money
returned to the channels of trade; enter-
Srise restored and' stimulated ; renewed
emand for the products of industry,
and the consequent increased demand
for labor and universal prosperity. If
the four hundred millions now locked np
in the treasury were restored to the chan
nels of trade and commerce, who can
doubt that labor would find employment
and the manufacturer a market for his
fabrics?
The obituarv of our merchant navr is
written in our tariff and shipping laws.
Its spirit of enterprise and daring that
once brought wealth to our shores and
pride to our people and that furnished
congenial employment to thousands of
our brave and hardy sons, is now buried
in the treasury vaults under those $400,
000,000 of which Mr. Calkins vaunts.
The lamentable condition in which our
war, navy, and coast defense a"e f'nd
at the end of nearly twenty years of re
publican rule is well described by Sena
tor Harrison in his able speech delivered
in this city. He says: "The highest
military and naval authorities of the
country have again and again, in official
reports to Congress, declared that we
are without a navy, and that our sea
coast defenses are not worthy of the
name. We have no guns for our ships,
none for our coast fortifications." What
party held the reins of political
power while the navy was rotting
down and the coast fortifications
were passing into dilapidation!
Senator Harrison did not charge that
the Democratic party suffered this con
dition of things to come about, or that
it was responsible for it. He could not
do that. . What he charges is that a late
session of Congress, after the navy had
S ractically ceased to exist, and the coast
efenses had become worthless, Demo
cratic Congressmen defeated a bill pro
viding for a small addition to the navy.
I understand opposition was made be
cause of the want of confidence in the
department as organized for the bst
construction of new vessels and a com
pletion of old or unfinished ones upon
the best plans, and not upon the ground
that a navy was required for public se
curity. Nothing in its history could
justify the charge that the Democracy i
opposed to the maintaining of a stronsr
and efficient naval armament. It looks
with, shame and humiliation upon our
present miserable navy, and regards with
anxiety our unprotected seaboard. A
nation, itself just and peaceably dis
posed, can better preserve its peace and
honor, and can better secure its citizens,
wherever they may be on the face of the
earth, from wrcng and insult when its
flag is a symbol of power adequate to the
vindication of any right or the redress of
any wrong.
May I ask you now to consider the
question whether there ought not to be a
chancre in the rrmtrnl and monnifanunt
I T " uiuuitgumgui
puuiiv. uiiuirsi vviiat omer remeay
for the correction of possible abuses have
the citizens of a free republic? There
are many valuable reforms that cannot
be accomplished by a party that has been
long in power. . As an illustration, con
sider our army of officeholders, now
about 110,000. Reform in the civil ser
vice requires its reduction, perhaps 30, 000.
It seems to be constantly increasing.
Who can check the evil, and discharge
all who hold positions and receive pay
without useful employment? Not the
party that created the positions and ap
pointed its favorites to fill them. That
is impossible. It is nineteen years
since the close of the war nearly five
presidential terms. During all that
period the executive and administrative
service of the country has been under
the control and management of one
party. Should it so continue 1 We know
enough to justify the suspicion "of
ways . that are dark." but I do not
choose to consider the exposures that
have been made. I prefer rather to
appeal . to your judgment that a change
is necessary, because in the management
of business so large, so varied, and so
complicated mismanagement and corrup
tion were possible and probable. The
books should be opened. 1 believe that
good policy and justice unite in de
manding a change, and without it we
uccu nut uupe xor aumimsirative reiorm.
But I would not imitate the Republi
can partv in its proscription of all but
party adherents. I repeat what I for
merly said, "that I hope never to see the
cruel and remorseless proscription for
political opinions which has disgraced
the administration for the past eiht
years. Bad as the civil service nowis,
as all know, it has some men of tried
integrity and proved ability. Such men,
and such men only, should be retained in
office, but no man should be retained on
any consideration who has prostituted
his office to the purpose of partisan in
timidation or compulsion, or who has
furnished money to corrupt elections."
May I ask your attention to one other
subject? Much is said about the prob
able foreign policy of the presidential
candidates, and for Mr. Tilainft if-. ia
'claimed that he will be more American
and dashing. His South American inter
ference was neither. Of course, we
know what vote this claim is intended
to reach. I think it will fail. The vote
is too intelligent. The nlatforms An
not differ materially. The Republican
declares: g We believe that everywhere
the protection to a citizen of American
birth must be secured to citizens of
American adoption." The Democratic
platform is: " The Democratic party in
sists that it is the duty of this govern
ment to protect with equal fidelitv and
vigilance the rights of its citizens, native
and naturalized, at home and abroad.
It is an imperative duty of this govern
ment to efficiently protect all the rights
of persons and "property of every
American citizen in foreign lands, and
demand and enforce full reparation for
liny invasion thereof."
Let the merit of this claim be decided
upon the comparison and contrast of two
cases, one under a Democratic adminis
tration and the other under Mr. Blaine
as secretary of state. In 1849, Martin
Koszta was engaged in the Hungarian
revolt against Austria. Upon the sup
pression of the revolt he became a refu
gee and sought an asylum and a home in
the United States. He declared his in
tention to become a citizen of this coun
try. In 1854, without having completed
his naturalization, he returned to Europe.
At Smyrna he was seized by the emis-t
saries of Austria and carried on board an
Austrian vessel of war. His release was
demanded by the American officials
and refused. At once Captain In
graham, of our navy, prepared
his sloop of war, the St. Louis, for ac
tion, and would have destroyed the Aus
trian vessel had not terms been agreed
to whereby Koszta was placed in the
charge of the French government to
abide the decisions of the questions.
The correspondence which followed, says
one of our historians, was one of the
ablest on record, and extended before its
termination to almost every question af
fecting naturalization and citizenship.
It was conducted on the nart of Austria
by the minister at Washington, Baron
Hulseman, and on the part of the United
States by Mr. Marcy, a man of great
power and thoroughly American. The
same writer says Mr. Marcy was com
pletely triumphant in his argument, and
Koszta was remanded to the United
States. You will observe that Martin
Koszta was not an American citizen;
had only declared his intention to be
come such, and that his return to Europe
was voluntary on his part. His case
would not fall within the letter of either
platform. The platforms speak only of
citizens adopted and natives. In that
correspondence the right of expatriation
became established. Under the author
ity in Koszta's case the European emi
grant of whatever country is protected
by the1 authority of the United States
from the day of his settlement and decla
ration of his intention. Thia was during
the Democratic administration of Frank
lin Pierce.
In striking contrast is the case of Mc
Sweeny. McSweeny was a citizen of the
United States. He had lived in this
country in pursuit of legitimate trade
for more than a quarter of a century.
With his family he visited Ireland.
Without the charge of crime or the vio
lation of law he was seized by the officers
of th British government and cast into
prison. This occurred on June 2, 1881. For
more than ten months his imprisonment
was continued. On August 1(1 there was
received at our state department a letter
from his wife. McSweeny immediately
forwarded his naturalization papers, to
gether with a solemn protest against this
British outrage, to the American minis
ter at London. Mrs. McSweeny's appeal
was not answered, nor was the minister
at London instructed to give it attention.
The case received no attention at the
state department until Mr. Blaine had
retired from office, which was, as I un
derstand, in the December following,
four months after Mrs. -McSweeny's ap
peal was received. The duty in such a
case is clearly declared by the laws of
the United States. Was it not enough
that Mr. Blaine was informed that an
American citizen was confined in a Brit
ish jail, and that he had been guilty of
no Violation of the laws, And that, rxn
charge of violation of the law had been
maue against mm i Should duty be
plainer, or its neglect more flagrant?
Had Marcy been the secretary of state at
the time would McSweenv have lan.
guished in prison ' for ten months?
Would his wife's letter have lain unno
ticed in the state department? Under
Marcv American rights were vindicated.
Under Blaine they were neglected.
JNot long since l made the acquaint
ance of Governor Cleveland. T found
him affable and courteous. Clear and
distinct in his views, and strong and di
rect in the expression of his numose??
he seemed to me as free from conceal
ments and the arts of a demagogue as
anv man I know. As far- an T mnld
judge in a single conversation I thought
mm in a maraed degree governed in his
official life bv his convictions of dntv.
You do not expect him to escape criti
cism upon his official life; that can
hardly be the fortune of any candidate.
Touching that I believe his motives have
not been impugned nor his honesty ques
tioned. In resDect to his nrivate life w
will not accompany his defamers in their
search for ground of accusation back of
the overwhelming vindication by hi
neighbors in three political contests of
extraordinary brilliancy and success.
What Morrill Thought of Blaine,
The New York Herald of recent date
contained the following dispatch from
Augusta, Me. :
The late Senator Lot M. Morrill, of
Maine, represented the purest and best
methods in politics, as his successor,
James G. Blaine, represents the worst.
The clear facts oi Blaine's ten years'
leadership of the party in Maine leaves
no doubt on that point. When Senator
Morrill resigned the senatorship to ac
cept the treasury portfolio under.Grant,
as will be remembered, Mr. Blaine was
appointed his successor. Senator Mor
rill died here eighteen months ago. His
widow, who is the daughter of the late
Mr. Vance, who in his day was one of
the most prominent citizens of this sec
tion, lives in a pleasant home on Win
throp street, this city. She is a lady evi
dently of great force of character, and
was the valued associate, confidant and
helpmate of her distinguished husband,
both in the executive mansion of thia
State and during the many years of his
residence at Washington as Senator and
secretary of the treasury.
Mrs. Morrill was recently surprised to
receive from Ohio an official letter di
rected to her late husband. Opening it,
she found it to be a very importunate
appeal to Senator Morrill to visit Ohio
and to lend his aid in, saving the State to
Mr. Blaine. Mrs. Morrill turned the sheet
over and wrote on its back an indignant
reply, and mailed it forthwith to' the
gentlemen who had signed the appeal.
The Herald correspondent called on
Mrs. Morrill at her residence this evening.
Sheis still indeep mourning, and consented
to receive the visit with great reluctance,
but she said that the exigency created by
Mr. Blaine's nomination is so important
that she was convinced all private feel
ings should be subordinate to it. As her
husband had been one of the most dis
tinguished, loyal, and upright members
of the 'Republican party, as he had as
sisted in its formation, had been one of
its first governors elected in this State
and held . its traditions and its principles
faithfully until his last conscious mo
ment, she knew that if alive to-day he
would feel that it was disgraced by the
nomination of Mr. Blaine as its candidate
for President, and that it had let go of
all that made its existence necessary to
the country.
"When Garfield was nominated,"
Baid Mrs. Morrill, "he said to me sadly
and seriously, 'My dear, the Republican
candidate will be elected this time; but,
unless new methods are used in the par
ty and new and better men become its
leaders, he will be the last one. You
will live to see a Democrat elected four
years hence ; I will" not. ' My husband, "
continued Mrs. Morrill, "died of his de
votion to the party of which he thus so
sadly spoke. It is unquestioned that
the breaking down of his health dated
from his, perhaps, too faithful perform- .
ance of his duties in the treasury depart
ment." r
To a question of the Herald correspon
dent as to the Ohio letter Mrs. Morrill
said:
" Some six weeks ago I received a let
ter from Columbus, Ohio, on a sheet
with printed head representing some po
litical organization. I was so surprised
and indignant at its contents that I did
not particularly notice whether it was
from a State committee, a county com
mittee, or some political club, but it was
Bigned by a Mr. Brown, as chairman,
and a Mr. Ogden as secretary. It was,
as well as I can remember it, about as
follows:
Senator Lot. M. Morrill ; -
Dear Sir : The situation in Ohio is a criti
cal one. The party is in trouble on account
6 attacks on Blaine as the candidate
of the party. Your well-known character as
a. pure and upright statesman, and coming
from Blaine's own State, you could" refute
the charges as no one else can. We hope you
will come to us in this emergency, and make
as many speeches as possible.
"I was indignant and amazed that
any Republican should be ignorant that
my husband was dead. I was more in
dignant that he should be asked to assist
in maiting Mr. liiaine President. I at
once sat down and wrote on the back of
the sheet this reply, as near as I can re
member it. I am now sorrv that I did
not keep copies of both the letter and of
my answer:
To Brown, Chairman, Columbus, Ohio:
"'lam surprised and shocked to receive
such a communication. I thought every citi
zen of this country knew my husband was at
rest I am in mourning for him, but, as much
as I mourn his death, I thank my Father in
Heaven that Hf called him home before the
party he loved so well and did so much for
had so disgraced itself as to nominate so
wicked and corrupt a man for the highest of
fice within the gift of the American people, as I
know and my husband knew James G. Blaine
to be: If he were alive he would not support
Mr. Blaine or any such man, even at the bid
ding of his party.
" 'Charlotte Morrill.
"My husband," continued Mrs. Mor
rill, "was visited by Mr.N Blaine at the
congressional investigation into the Lit
tle Rock railroad hn
as he did to Mulligan, importuned my
uuauanu witn tears and entreaties to use
his influence to nave him wion
husband resigned to go into the cabinet
it was generally understood, and my hus
band so understood, that Governor Cham
berlain would be appointed to fill the
vacancy. Instead, and to the surprise of
every one, Governor Connor appointed
Mr. Blaine, then a Representative in
Congress and under charges in that body,
to the vacancy."
As Mrs. Morrill intimated, the appoint
ment of Mr. Blaine to the vacancy was
evidently to save him from further inves
tigation nd the inevitable incriminating
verdict of the committee. Governor
Connor had his reward. He is now pen
sion agent for this State, the best office
next to the collectorship.
"Save Ma From My Friends."
If Mr. Blaine wishes to make any head"
way between the present time and elec
tion day, he had better borrow General
Butler's infallib e receipt for bottling up
the too exhuberant "Joe" Hawley, who
put his loot into it incontinently at a
Blaine meeting in Brooklyn. After ring
ing the changes on slavery and the war
until his hearers became bored with sub
jects dead and buried, Senator Hawley
broke forth into the alarming remarks:
"Our party can purify itself. It is doing
it ; it has been doing it. I was not a
Blaine man, but I tell you that I nevei
had the idea that James G. Blaine made
a dishonest dollar in the world." This
was not enough for the effusive Hawley,
but he must add to it by suggesting that
Blaine had said in a privete letter some
thing that indicated that he might have
been tempted to do so. "I wish he hadn't
written that," continues this indiscreet
orator. "It would have been better if he
had not connected his private with his
public business." Such . language from
the Blaine stump is calculated to give
the candidate another sunstroke like that
which the Mulligan letters produced, and
to make him groan in bitterness of spirit,
"Save me from my friends." 2few York
Telegram.
JIORE MULLIGAN LETTERS
Blaine's Shameless Acts of
Public J obbery.
Setting Services as Speaker for
Stocks, Bonds and Cash
Pleading for Mercy When
Fears of Exposure
Haunted Him.
Boston, September 12, 1884.
To the People op the United States:
Believing that it is our duty to lay
before our fellow countrymen the fol
lowing documents which have been in
our possession, we have placed the orig
inals for safe keeping in the hands of
Messrs. Sohier and Welch, counselors, of
Boston, and herewith submit their con
tents without comment. The letters
from Mr. Fisher are letter-press copies
of the originals.
The words "Indeed, I am sure that
no one received bonds on any other
terms," were interlined in the foregoing
letter in Mr. Blaine's own handwriting
We hereby certify the following to
be true and correct copies of the orig
inals. Warren Fisher.
James Mulligan.
Augusta, Me., Oct 4, 18G9.
innD?A1J Mr" FiSHER-Find enclosed
$10,000 check in payt of A. & P. Coburn's
subscription.
I presume you will receive by same mail
the 20 p'r ct due on all the subscriptions al
ready forwarded to you, and also on the f ol
io wing:
PmloHersey Belfast $1000
W'TJohnson " 5.C00
K. C. Johnson " 5 000
Nahum P. Munroe " . '. '. '. ' ' ' ' 5000 '
C. B. Hazeltine " ..." 5000
This makes $125,000 in aii I have 'disposed
of. It is doubtful if I dispose of any more,
but 1 shall know by to-morrow. So there
will be no delay to embarrass you in any
way. No one will ever know from me that I
have disposed of a single dollar in Maine. So
there need be no embarrassment in talkine
with Mr. Caldwell. I don't wish you to se
tie that matter with Mr. Caldwell till you
hear from me again. Please send receipt to
A. & F. Coburn, Skowhegan, Me.
Yours truly, JAMES G. BLAINE.
W. Fisher, Jr., Esq.
After I ree'd the letter in regard to Mr.
AnHam aeITIe?raPhed aSam- Delano
had ret d, and I think the suspension was at
once ordered by him. J G B
tvn'i iLlo8; only. f s'0;)0 this morning.
ill send $2,0J0 remaining to-morrow morn
ings NOT INDELICATE.
$5,000 AUGtrsTA, Me., 5th Oct 186a
MTDiPlPfD Vron T .
"TA encio?e you two-
-u-uuuai vuolk, Daiance or A. & P
Coburn s installment; two thousand dollars
In pay t of Anson P. Morrill's installment ; one
thousand dollars in imrt of Lot M. Morrill's "
tabrtmrat. rot it Morrill's subscription of
o,wo is additional to those already advised
makmg m all $130,000. There may possibly
limit. ' more but $150,000 will be my
lJtIT?iyiff:nci06iD&F- R Hazeltine's
letter from Belfast. By mad succeeding this
you will receive Cashier Check for $1,000, and
hnaf r you wlU no troubIe with any
of the Maine subscriptions. All will come to
you in Cashier Checks or money direct by
Fnote what you say about the importance
of my keeping all quiet here. I f ully appra
ciate y'r wisdom and y'r kindness, and shall
endeavor to do just as you desire in the prem
1 T?iter enclosing the Globe by same
mail with this can be read by you to Mr.
Caldwell if you think it expedient. I hav
fca?V ting " DOt to 1)6 indeU
I shall see you in Boston Thursday noon,
come any raeipt3 to Maine folks till I
, Yours,
W. F. Jr., Esq. j. G. BLAINE.
These two letters of October 4th and
5th, 18G9, are in continuation of the two
letters of October 4th, 1869, which have
been already published.
CASTING AN ANCHOR TO THE WINDWAED.
MV nw.?USA Ma- 18th Nov- 1869.
My Dear Mr. Fish t u..
to my mind that at the approaching session
o-- va niuuonu expansion or the
currency to the amount of fifty toTevenS-!
five million nf HniKin, tv- r . y
1 think, will be an addition to the National
Bank circulation West and South.
MV Obiect In wrifinra- i. i. i .
W. "ends would desire to establish a Bank
nntt1fCk?-.Itwm t10 soma extent a
matter of favoritism fr t,i
. , uets uie nits
in the several localities, and it will be in my
power to "cast an Anchor to the Windward"'
in y'r behalf if von Hira , di " Jr.",.
over the matter, and confer with Mr. Cald
well: and let me know y'r desires as soon as
ycu reach any couclusion. There is, of course,
no special hurry; but I thought I would sug
pst the matter in order that you might ma
ture your thoughts in good time.
Itwouldbe well to determine the amount
to which you might wish to go. I suppose it
might be practicable to secure a B00T00O
bank; but in that locality you would hardly
WkS A f? deeP- But they are very profit
able institutions say $250,000
Yours very truly, j. Q. Blaine.
Warren Fisher, Jr., Esq
Forty-First Congress, U. S.
S. 1
IVES, V
', 1870. j
XlUL'hE OF KEPRESENTATI
Washington r n nmi ,
My Dear Mb tttctto v- 'i
tuv t) ,,. -.oia, iUU nave reca
Mr. Boutwell s answer.
I presume you will deem it necessary to
come on here; if so, let me know of it a day
or two in advance. J
I have written Mr. Caldwell about the
wank; no trouble in securing a B'kof $500,-
Kec'y of War will not allow the use of the
Arsenal ao Little Rock,-sayS it is impossible.
Very hastily & truly, j b
House of Representatives,
ltives, )
TON', D. C, V
r, 9, 1S70.
vv ashington,
,r December, i
. . . T : 1 wroie very
hastily, both to yourself and Mr. Caldwell, in
""o Bank. A further conference
with the Comptroller of the Currency gives
some additional facts which are of interest,
and this letter is intended alike for yourself
and Mr. Caldwell Please show it to him
Iheyarenow allowing 90 percent circula
hon on 10-40 Bonds, insteacfof 80, and then
So at different periods in the past. They rive
j'dmrt assurance that you shall have full
$-kiO,000 circulation on a-Bank of half a mil
lion capital. J